Dubai – Mubasher: Emirates Investment Bank has logged AED 28.17 million net losses attributable to the equity holders of the parent during the first nine months of 2020, versus net profits of AED 21.5 million in the corresponding months of 2019.

The bank's net income from investments declined to AED 17.9 million in the January-September period of 2020 from AED 56.28 million in the year-ago period, according to the bank's consolidated interim financials for the period ended on 30 September 2020.

The lender's total assets reached AED 2.334 billion as at 30 September 2020, compared to AED 3.12 billion as at 31 December 2019.

The basic and diluted loss per share settled at AED 40.24 during the first nine months of 2020, versus earnings per share (EPS) of AED 30.72 in the corresponding period of 2019.

Meanwhile, the bank incurred net losses of AED 7.3 million during the third quarter (Q3) of 2020, compared to net profits of AED 279 million in the corresponding quarter of 2019.

It is noteworthy to mention that in the first half (H1) of 2020, the bank saw AED 20.87 million net losses attributable to equity holders of the parent, against net profits of AED 21.22 million in the year-ago period.